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Exam 3: National Differences in Economic Development

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Question 1

True/False

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In Samuel Huntington's thesis, global terrorism is a product of the tension between civilizations and the clash of value systems and ideology.

A) True
B) False

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True

Question 2

Multiple Choice

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Which of the following of the Cold War era has vanished?

A) Multipolar world
B) Democratic system
C) Free market system
D) Bipolar world
E) Widespread belief in Western ideology

F) None of the above
G) C) and D)

Correct Answer

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D

Question 3

Multiple Choice

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The United Nation of Zorwaya has strict restrictions on direct investment by foreign enterprises, and it opposes the establishment and operation of private enterprises. The highest authority in the country enforces tight control over prices and production output. According to this information, the United Nation of Zorwaya most likely opposes:

In the context of global economy, which of the following has been widely accepted since the late 1980s?

When social unrest and disorder in a country causes drastic changes in its business environment that adversely affect the profit and other goals of a business enterprise, the business enterprise is said to be facing which of the following type of risk?

"Not all democracies are free, as some still restrict certain political and civil liberties." Which of the following countries best fits this argument?

Author Francis Fukuyama envisioned a world split into different civilizations, each of which has its own value systems and ideology.

The gross national income (GNI) per capita comes much closer to Amartya Sen's conception of how development should be measured than narrow economic measures such as Human Development Index (HDI).

One can adjust GNI per capita by purchasing power to account for differences in the:

Black economy is most likely to be prevalent when:

Economists who argue that innovation and entrepreneurial activity are the engines of long-run economic growth, define innovation broadly to include not just new products but also new processes, new organizations, new management practices, and new strategies.

In most eastern European nations, the title to urban and agricultural property is often uncertain because of incomplete and inaccurate records, multiple pledges on the same property, and unsettled claims resulting from demands for restitution from owners in the pre-communist era.

Which of the following is most likely to prove detrimental to democracy and international business?

The purchasing power parity for different countries is adjusted (up or down) depending upon whether a country's cost of living is lower or higher than the cost of living in the United States.

The government of Ugania had been extending huge amounts of loans to the business enterprises in the country. However, the borrowers failed to generate the profits necessary to repay their debts. As a result, national banks in Ugania had a lot of nonperforming assets on their books, and the Uganian currency was devalued. In this context, the business enterprises in Ugania are most likely to face which of the following type of risk?

Only a totalitarian regime that is committed to which of the following is capable of promoting economic growth?

Which of the following creates an environment that is conducive to product and process innovations and to entrepreneurial activity?

How have new information and communication technologies, including the Internet, affected the political economy in general?

Discuss Samuel Huntington's idea of the new world order. What are its implications for international business?

Entrepreneurial individuals have fewer economic incentives to develop valuable new innovations in market economies than in planned economies.